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Indo Rama Synthetics shines on plan to set up new manufacturing facility in Tamil Nadu

11 Feb 2013

Indo Rama Synthetics (India) is currently trading at Rs. 23.25, up by 0.60 points or 2.65% from its previous closing of Rs. 22.65 on the BSE.

The scrip opened at Rs. 23.55 and has touched a high and low of Rs. 23.55 and Rs. 22.60 respectively. So far 4,640 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 34.85 and a 52 week low of Rs. 19.00.

The current market cap of the company is Rs. 352.00 crore.

The promoters holding in the company stood at 64.06% while Institutions and Non-Institutions held 15.35% and 13.82% respectively.

In a bid to set up a new manufacturing facility in Tamil Nadu, Indo Rama Synthetics (India) is planning to invest around Rs 4,500 crore in the next three-four years. The company is planning to come up with project that will house polyester manufacturing unit as well as a factory to produce critical raw material Purified Terephthalic Acid (PTA).

At present, the company sources the critical raw material Purified Terephthalic Acid (PTA) from various domestic and international firms and the new facility would help it become self reliant.

The company produced 6.10 lakh tonne of polyester last year and its PTA requirement stood at 5.21 lakh tonne.

Related Indo Rama Synthetics (India) Ltd. Links:

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